GS today came up with serious downgrades in financials like C & MER....which tanked the markets and took all support with it.......
GM is hitting 55 year low......
OPEC president predicting $170 oil.....
Gold UP $32......
Oil UP $3.46
So.....the question IS...where IS the bottom in markets.....52 week low in Dow IS 11508.70...we are @ a kissing distance only.....then what????
We have already hit 11585.15 on the Dow so far????
Unless financials turn UP...markets will not find support.....
In my portfolio :
Bought RIO @ open my cost $36.53
Added 20% SOL..cost went down to $22.89
My portfolio is RIO,MRVL,SOL.....
MRVL down 99 cents
RIO down 94 cents
SOL down $1.25....Why do I get the feeling that SOL will find support TODAY...we shall see !!!
Except for Gold and some AG...most stocks are deep in the RED......
BLOG does NOT give buy or sell.
Saleem
10 comments:
SALEEM
Love your portfilo
Look at the tankers for Divi income and stock appreciation.
Hi Madmax,
RIO is getting into tankers business...thus my purchase of RIO.
Thanks for your note for my "struggling portfolio"
Saleem
Good morning guys.
Any thoughts on some coal plays?
Victor
Hi Victor,
JRCC & ICO are good coal plays...
Saleem
Thanks Saleem,
I'll put them on my watch list.
Victor
VICTOR
J the Cremer Loves coal stocks got to his web site. for a list of his picks.
I like the Nat gas plays, like PQ, CHK, RRC, SWN and UPL, to name a few.
I own RRC and PQ. Good luck
Saleem I did not know that RIO was in to shipping WOW I will read up! Can you share your selection process with us, How you picked RIO and why. Thanks in advance, and Please, no offence.
M
Hi Madmax,
I do my research based on all fundamental facts gathered from Yahoo Finance..then check all recent news...that gave me the news about RIO getting many vessels to transport Iron ore to Asia.
TA is last 30%.....
Saleem
This looks like capitulation to me.
Victor
Saleem,
Best to you and your portfolio. You have done very well during the last rally (through Memorial Day)so you still have profits I am sure.
I was in 100% cash most of this week and have only been in POT and CMED in recent times. This is a very dangerous market and has been since October. We probably will get a bounce here as we are oversold but I see us eventually going through bottom support.
There are sectors that will likely hold up, such as commodity stocks *coal iron fertilizers etc... if they go there is always gold!And of course Cash is king to buy on the cheap...
Just my thoughts. Be careful out there. I like you Saleem and I wish you the best...
Jon
Hi Jon,
Thank you so much for your personal approach in these crazy dwntrending market.....
Your 100% cash is a safe strategy.
I appreciate your best wishes for me.....
Yes...I am closely monitoring my positions also and am NOT overexposed.
Saleem
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